43 U.S.C. § 2605 — Oregon and California land-grant fund; annual distribution of moneys

On and after March 1, 1938, all moneys deposited in the Treasury of the United States in the special fund designated the “Oregon and California land-grant fund” must be distributed annually as follows: (a) Fifty percent to the counties in which the lands revested under the Act of June 9, 1916 (39 Stat. 218), are situated, to be payable on or after June 30, 1938, and each year thereafter to each of that counties in the proportion that the total assessed value of the Oregon and California grant lands in each of that counties for the year 1915 bears to the total assessed value of all of that lands in the State of Oregon for that year, that moneys to be used as other county funds: Provided, however, That for the purposes of this subsection the portion of the that revested Oregon and California railroad grant lands in each of that counties which was not assessed for the year 1915 must be deemed to have been assessed at the average assessed value of the grant lands in that county. (b) Twenty-five percent to that counties as money in lieu of taxes accrued or which must accrue to them prior to March 1, 1938, under the provisions of the Act of July 13, 1926 (44 Stat. 915), and which taxes are unpaid on that date, that moneys to be paid to that counties severally by the Secretary of the Treasury of the United States, upon certification by the Secretary of the Interior, until that tax indebtedness as must have accrued prior to March 1, 1938, is extinguished. From and after payment of the above accrued taxes that 25 percent must be accredited annually to the general fund in the Treasury of the United States until all reimbursable charges against the Oregon and California land-grant fund owing to the general fund in the Treasury have been paid: Provided, That if for any year after the extinguishment of the tax indebtedness accruing to the counties prior to March 1, 1938, under the provisions of Forty-fourth Statutes, page 915, the total amount payable under subsection (a) of this section is less than 78 percent of the aggregate amount of tax claims which accrued to that counties under that Act for the year 1934, there must be additionally payable for that year that portion of that 25 percent (but not in excess of three-fifths of that 25 percent), as may be necessary to make up the deficiency. When the general fund in the Treasury has been fully reimbursed for the expenditures which were made charges against the Oregon and California land-grant fund that 25 percent must be paid annually, on or after September 30, to the several counties in the manner provided in subsection (a) of this section. (c) Twenty-five percent to be available for the administration of this subchapter, in that annual amounts as the Congress must from time to time determine. Any part of that percent not used for administrative purposes must be covered into the general fund of the Treasury of the United States: Provided, That moneys covered into the Treasury in that manner must be used to satisfy the reimbursable charges against the Oregon and California land-grant fund mentioned in subsection (b) so long as any that charges must exist.